Alantra advises Pollen Street Capital on securing debt financing for a £200 million investment in Markerstudy Group

Jan 2021

Debt financing

Value £200 million

London – Alantra, the independent global mid-market investment banking firm, has provided debt advisory services to Pollen Street Capital (Pollen Street) for its substantial investment in Markerstudy Group, the fifth largest motor insurance provider in the UK.

The £200 million transaction will see Pollen Street partner with and make a substantial investment alongside the existing founder team. Qatar Insurance Corporation (“QIC”) will also participate in the transaction.

The Markerstudy Group (the Group) will use the investment to deliver an ambitious and sustainable growth programme through a combination of organic and acquisition-led expansion and build on its rapid development over the last 19 years, which culminated in the acquisition of the Co-op’s insurance underwriting business in December.

Founded in 2001, Markerstudy is the fifth largest motor insurance provider in the UK, one of the largest privately owned insurance groups, and the largest Managing General Agent in the UK. With over 1.8 million policyholders, they are known for their investment in technology, underwriting expertise and sophisticated product development.

Andrew Lynn and Andrew Shellard, partners at Alantra, led the deal supported by analyst Jack Anstis.​

Andrew Lynn, partner at Alantra, commented, “We are delighted to have worked with Pollen Street Capital in advising on the debt raise to support their investment in Markerstudy Group. While the transaction had a number of layers of complexity, the quality of the underlying business and strategic plans of Pollen Street Capital and management underpinned a strong credit story to deliver a successful process.”

Kevin Spencer, Group CEO of Markerstudy said, “We have been working with the team at Pollen Street for over a year, during which time we have built a strong working relationship and a shared vision for our combined growth ambitions. This strategic partnership with Pollen Street and QIC is a powerful alliance and will facilitate our expansion as we move to the next exciting chapter in our evolution.”

Michael England, Partner at Pollen Street, said, “We are delighted to welcome Kevin and the team to the Pollen Street fold, and are excited about the future together.  We have been impressed throughout our time working together with both their growth track record and their ambitions for the future. We focus our investments on opportunities where we can work with management teams to build leaders in European financial services, driving growth through a combination of the strongest customer propositions with data and technology led business models. Markerstudy fits squarely within this theme, marking our third investment in the insurance sector in the last three years and our second investment into Pollen Street IV.”